Investing

Stocks Mostly Higher In Late Trade; Actavis Jumps

The major averages were mostly higher late Friday, with gains in technology stocks offsetting a dip in blue chips. Volume was weak.

The Nasdaq rose 0.6% and the S&P 500 added 0.1%. The Dow Jones industrial average slipped 0.1%. Volume dipped 3% on the Nasdaq and 5% on the NYSE compared with the same time Thursday.

In the stock market today, drugmaker Actavis (ACT), formerly Watson Pharmaceuticals, jumped 7% to a new high in heavy trade on a report that it's in talks to acquire specialty pharmaceuticals company Warner Chilcott.

Nationstar cleared a 42.34 buy point Thursday and remains in a buy area, 3% above the entry.

Ocwen hit a new high intraday as it heads for its seventh straight gain. It broke out Friday above its 42.17 buy point from a cup-shaped base, and is less than a dime above that trigger. Note, though, that much of it has formed below the 10-week line, which is a flaw.

Priceline reclaimed a 728.80 cup-with-handle buy point and also cleared an alternate entry at 745.34. Volume is four times the stock's average daily turnover.

Tesla Motors (TSLA) hit another new high, soaring 11% in massive volume. The maker of luxury high-performance electric cars reported its first profit in better-than-expected first-quarter results on Wednesday. Shares are up 43% this week.

Grifols (GRFS) sank 3% in double its average daily volume as the Spanish maker of medical products slumped further below its 50-day line.

The stock cleared a 30.79 flat-base buy point in weak volume on April 30. But it began selling off in earnest following a disappointing earnings report on May 2. It's now 11% below the entry.